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Should I invest in Max Life Smart Wealth Advantage Growth Par Plan?

Ramalingam

Ramalingam Kalirajan  |6903 Answers  |Ask -

Mutual Funds, Financial Planning Expert - Answered on Jul 25, 2024

Ramalingam Kalirajan has over 23 years of experience in mutual funds and financial planning.
He has an MBA in finance from the University of Madras and is a certified financial planner.
He is the director and chief financial planner at Holistic Investment, a Chennai-based firm that offers financial planning and wealth management advice.... more
Asked by Anonymous - Jul 16, 2024Hindi
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Hi I had decided to take a policy for Max Life Smart Wealth Advantage Growth Par Plan (A Non-Linked Participating Individual Life Insurance Savings Plan) I am 28 years old and investing 1.5 LPA annually with rate 8% roi this 1.5 i have to give annually till 12 years will instant interest return around 61k every year from 2nd year till 23rd year and the maturity will be on 25th year. Could you please suggest if this is a good investment to go with. please suggest

Ans: Evaluating Your Investment Choice
Understanding the Policy

Plan Type: Max Life Smart Wealth Advantage Growth Par Plan.
Premium: Rs 1.5 lakhs annually for 12 years.
Duration: Interest returns from 2nd to 23rd year; maturity at 25 years.
ROI: Projected rate of 8%.
Critical Analysis

Returns

Guaranteed vs. Non-Guaranteed: The plan offers participating benefits which are not guaranteed.
Expected Returns: Non-linked plans often have returns lower than market-linked investments.
Liquidity

Lock-in Period: Limited liquidity with long-term commitment.
Access to Funds: No easy access to your money until maturity.
Comparison with Other Options

Term Insurance

Coverage: Higher sum assured at a lower premium.
Simplicity: Pure risk cover without any investment component.
Public Provident Fund (PPF)

Safety: Government-backed and risk-free.
Returns: Around 7-8% currently, tax-free interest.
Mutual Funds

Potential Returns: Equity mutual funds can offer higher returns, though with higher risk.
Flexibility: SIP options provide flexibility in investment amounts and duration.
Recommendation Based on Risk Appetite

Risk-Averse Approach

Term Insurance: Opt for a term plan with adequate coverage.
PPF: Invest in PPF for assured, tax-free returns.
Benefits: Combines safety with adequate life coverage.
Willing to Take Risk

Term Insurance: Secure a term plan for life cover.
Mutual Funds: Invest in a diversified mutual fund portfolio for potential higher returns.
Benefits: Offers higher growth potential with life security.
Disadvantages of the Policy

Lower Returns: Potential returns may not match inflation and market-linked returns.
Lack of Flexibility: Long-term commitment with limited access to funds.
Advantages of Suggested Approach

Term Insurance + PPF

Security: Provides financial security for your family.
Stable Returns: Offers stable, risk-free returns.
Term Insurance + Mutual Funds

Growth: Potential for higher returns through equity exposure.
Flexibility: SIPs offer flexible investment amounts and durations.
Action Plan

Review Needs: Assess your financial goals and risk tolerance.
Consult CFP: Seek advice from a Certified Financial Planner for personalized planning.
Start Early: Begin with term insurance and a mix of PPF or mutual funds based on your risk appetite.
Final Insights

Better Options: The Max Life plan may not offer the best returns.
Alternative Investments: Consider term insurance combined with PPF or mutual funds.
Professional Advice: A CFP can help tailor a plan to meet your goals.
Best Regards,

K. Ramalingam, MBA, CFP

Chief Financial Planner,

www.holisticinvestment.in
DISCLAIMER: The content of this post by the expert is the personal view of the rediffGURU. Users are advised to pursue the information provided by the rediffGURU only as a source of information to be as a point of reference and to rely on their own judgement when making a decision.
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Ramalingam

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Mutual Funds, Financial Planning Expert - Answered on Apr 08, 2024

Asked by Anonymous - May 12, 2023Hindi
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Is SBI Life wealth builder a good plan to invest 2.5 LPA for 7 years. I am 39 yr old NRI
Ans: Investing in SBI Life Wealth Builder may not be the most suitable option for several reasons:

High Charges: The plan incurs various charges, including premium allocation charges, policy administration charges, mortality charges, and fund management charges, which can significantly reduce the overall returns on investment.

Limited Flexibility: The plan offers limited flexibility in terms of premium payment options and withdrawal facilities, restricting the investor's ability to adjust their investment strategy according to changing financial needs.

Complex Structure: SBI Life Wealth Builder has a complex structure with multiple investment options, fund switching facilities, and lock-in periods, which may confuse investors and make it challenging to understand the true cost and benefits of the plan.

Uncertain Returns: The returns from SBI Life Wealth Builder are not guaranteed and are subject to market risks. Given the lack of transparency and high charges, investors may not achieve the expected returns, especially considering the volatility of the market.

Better Alternatives: There are other investment options available in the market, such as mutual funds, PPF, and ELSS, which offer potentially higher returns with lower charges and greater flexibility. Investors should explore these alternatives before committing to SBI Life Wealth Builder.

Overall, due to its high charges, limited flexibility, complex structure, uncertain returns, and the availability of better alternatives, investing in SBI Life Wealth Builder may not be the most prudent choice for investors.

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Ramalingam

Ramalingam Kalirajan  |6903 Answers  |Ask -

Mutual Funds, Financial Planning Expert - Answered on May 06, 2024

Asked by Anonymous - Apr 10, 2024Hindi
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I invested in Max Life Monthly Income Advantage Plan year 50k since 2016 . Its good invest or not . Another is ICICI Pru Signature year 1.5 lk im not sure amount the returns any suggestions .
Ans: I'm happy to chat about your investments. It sounds like you've been proactive by putting money away for the future – that's great!

Let's talk about these plans you mentioned. These types of insurance-cum-investment products can be a bit tricky. While they offer a mix of insurance and investment, they might not always be the most suitable option for everyone.

Here's why:

Focus Split: These products try to do two things at once – provide insurance coverage and grow your money. This can sometimes mean they might not excel in either area.
Potential Lower Returns: The insurance component often comes with fees that can eat into your investment returns compared to pure investment options.
Instead, let's consider a different approach that might better suit your needs. Here's a possible strategy:

Term Insurance: This provides pure life insurance coverage at a lower cost. Think of it as a safety net for your loved ones in case of an unfortunate event.
Mutual Funds: These are investment vehicles that allow you to pool your money with others and invest in a variety of stocks or bonds. They offer the potential for higher returns compared to insurance-linked products.
This way, you get the security of life insurance and the potential for growth through mutual funds. It's like having a well-diversified team working for your financial goals!

Look, understanding financial products can be complex, and there's no one-size-fits-all solution. If you'd like to explore this further, I recommend chatting with a CFP. They can give you personalized advice based on your specific situation and financial goals. Don't worry, CFPs are there to guide you, not pressure you – they're on your team!

In the meantime, keep up the good work with saving and investing. It's a marathon, not a sprint, but with the right approach, you can reach your financial finish line!

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Ramalingam

Ramalingam Kalirajan  |6903 Answers  |Ask -

Mutual Funds, Financial Planning Expert - Answered on May 17, 2024

Ramalingam

Ramalingam Kalirajan  |6903 Answers  |Ask -

Mutual Funds, Financial Planning Expert - Answered on May 15, 2024

Asked by Anonymous - May 14, 2024Hindi
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I am 31 years old ,I have 17.5 lacs in equity, investing 12000 in lic jeevan umang 20 yr plan, 10000 in icic prudential long term gift plan for 10 year , 5000 sip in mutalfund and sometimes lumpsum when I have extra money, I have 12 lacs in FD. I have family health insurance of 10 lacs , I have no major emi at present. Is my investment ok ?
Ans: As a Certified Financial Planner, I commend you for taking steps towards securing your financial future. Let's assess your current investment strategy to ensure it aligns with your long-term goals.

Appreciating Your Financial Savvy
At 31, you've demonstrated prudence by diversifying your investments across various asset classes. Your approach reflects a blend of risk management and wealth accumulation, laying a solid foundation for financial stability.

Analyzing Your Investment Allocation
Equity Investments
With ?17.5 lakhs in equity, you've positioned yourself to potentially benefit from the growth potential of the stock market. Equity investments can offer higher returns over the long term, albeit with higher volatility.

Insurance-Linked Savings
Investing ?12,000 monthly in a life insurance plan and ?10,000 in a long-term gift plan exhibits a focus on risk mitigation and long-term savings. However, it's crucial to evaluate the terms, returns, and suitability of these plans in achieving your financial objectives.

Insurance-cum-investment schemes
Insurance-cum-investment schemes (ULIPs, endowment plans) offer a one-stop solution for insurance and investment needs. However, they might not be the best choice for pure investment due to:
• Lower Potential Returns: Guaranteed returns are usually lower than what MFs can offer through market exposure.
• Higher Costs: Multiple fees in insurance plans (allocation charges, admin fees) can reduce returns compared to the expense ratio of MFs.
• Limited Flexibility: Lock-in periods restrict access to your money, whereas MFs provide more flexibility.
MFs, on the other hand, focus solely on investment and offer:
• Potentially Higher Returns: Investments in stocks and bonds can lead to higher growth compared to guaranteed returns.
• Lower Costs: Expense ratios in MFs are generally lower than the multiple fees in insurance plans.
• Greater Control: You have a wider range of investment options and control over asset allocation to suit your risk appetite.
Consider your goals!
• Need life insurance? Term Insurance plans might be suitable.
• Focus on growing wealth? MFs might be a better option due to their flexibility and return potential.

Mutual Fund SIPs
Allocating ?5,000 monthly to SIPs demonstrates a commitment to systematic investing, harnessing the power of rupee cost averaging. However, ensure your mutual fund selection aligns with your risk tolerance and investment horizon.

Fixed Deposits
Maintaining ?12 lakhs in fixed deposits offers stability and liquidity but may not provide optimal returns compared to other investment avenues. Consider reassessing this allocation to potentially enhance returns without compromising safety.

Assessing Your Risk Management
Your family health insurance cover of ?10 lakhs safeguards against unforeseen medical expenses, a crucial aspect of financial planning. However, periodically review your coverage to ensure it remains adequate as your family's needs evolve.

Addressing Potential Considerations
Emergency Fund
While your FDs serve as a form of emergency fund, consider segregating a portion for immediate access in case of unforeseen expenses. Aim for 3-6 months' worth of living expenses in a liquid account for added financial security.

Retirement Planning
As you progress in your career, prioritize building a robust retirement corpus to maintain your desired lifestyle post-employment. Consider exploring retirement-focused investment avenues like provident funds or pension plans to supplement your existing savings.

Regular Portfolio Review
Periodically review your investment portfolio with a Certified Financial Planner to reassess your goals, risk tolerance, and market conditions. Adjust your strategy as needed to stay on track towards achieving financial independence.

Conclusion
In conclusion, your investment approach reflects a commendable balance of risk management and wealth accumulation. However, continuous monitoring and periodic adjustments are essential to ensure your portfolio remains aligned with your evolving financial aspirations.

Best Regards,

K. Ramalingam, MBA, CFP,

Chief Financial Planner,

www.holisticinvestment.in

..Read more

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I am 45 years old female, single child, I fell in love wid a guy during college, he is short tempered other than that when hez ok he used to care me so so so much. We got married when i was jobless and when he just started a business. The business isnt going tht well and after having two kids i started realising he is not at all ready to take any responsibilities, always he is lazy once he reach home and i am working and i am the one who has to do evry work along with work. When we fight he doesnt do any physical Abuse but mentallyy he abuses me so much that i feel myself useless. My parents too started saying that they never saw us happily instead we are always fighting and we are never at peace. I really was never able to understand him. I feel he has too much ego and wanna win every fight. He too says the same about me, but i am the one who goes and solves most of our fights by begging him badly. I decided to divorce him frm last one year but never had the guts tu say it to him openly. Was very afraid. Recently i met a guy, he have been noticing me for so long, we became friends first, very quickly he became my best friend, i have never in my life been able to read someones mind so well, so i am Able to take care of him so well, similarly never in my life i was respected so much for everything i do, or never was i cared so much. My own husband doesnt know what all i like, but this bestie knows. Slowly slowly we fell in love. I have confirmed my thought about divorce, and my Husband instead of even clutching on to me He is saying you just go i dont wanna beg you to stay for me. I dont wanna beg to a girl like you. He is very kind and soft outside only inside my house to me he is very very arrogant and fighting. Once i make this divorce decision public everyone will blame me, everyone will point out me as culprit, but i dont wanna continue anymore, i am done with this. What shall i do now ??
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Start by calmly sharing how this situation affects you—not just financially but emotionally and physically. Emphasize that while you understand his desire to stay close to his family, your situation is not sustainable, and you need him to step up. You might also consider counseling, either together or on your own, to find ways to cope with your stress and explore solutions to address this imbalance in your relationship.

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Madam am working women of age 28 working for past 5 years , I am in living relationship with my boyfriend who is 38 now. I want to do marriage and settle now but my partner doesn't feel necessary to do marriage and if I force he is telling he will do court marriage which am not interested to do. He is not ready to meet or convince my parents for marriage . I have given him money for buying a property which I was least interested. He started controlling all my finances which I felt incorrect so I questioned him which made his ego hurt and he has hit me twice. My parents are now telling me to get married but I don't know what to do. Sometimes when he ia not around I tried talking to other guys in dating app which afterwards am feeling guilty for cheating him. Nowadays I lost interest in everything I don't have courage to end my life so not able to concentrate on my work. Please tell me what I need to do to correct my path as it's getting hell day by day.
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Hii, my husband and I have a love marriage after 9 years of dating, now it has been 6 years and two children after that, little one is 8months old. He had a brief affair extending to chatting mostly as far as I know to someone who works in the same company but different department to him when my little one was 1 month old, we were in rough patch that time due to child birth difficulties and family drama. Then as I got to know about the same, by casually checking his phone and confronted him he accepted his mistake and said sorry. And said he won't be doing that again but I caught him again somehow chatting and same repeat he said he is wrong and now as per him he have reduced talking to that girl. But as I think he talks to her thoda bhot, as she is his junior position and asks for help once a while. I love my husband a lot, but this thing hurt my self respect and I am in a lot of torture mentally. I know my husband won't leave me, but I don't want to stay in such a relationship which feels a burden to my partner. I want my husband to be happy too. I am very confused what to do. I have talked to him on several times, every time he listen and helps me calm down, some times we fought also. But I am not at peace. Ps that girl is also married to her love just 2 years back. I don't want to harm my husband's reputation in any way. But I am very much hurt also. I have been reading your column for 3-4 now. I am also financially independent. I don't need anything form him, just his love. Sorry for the length, please help me.?
Ans: In your heart, it’s clear that you love him deeply and that, ideally, you want to preserve your family and relationship. However, it’s important not to dismiss your own needs for validation, love, and respect. Sometimes, the process of forgiveness includes setting strong, clear boundaries. Your husband needs to understand that while you’re willing to work on the relationship, trust is fragile and requires commitment to restore. This might mean a commitment on his part to keep all communication with this colleague strictly professional and transparent, or even a decision to minimize interactions with her entirely if necessary. Expressing these boundaries clearly may help him see the gravity of what’s at stake.

It’s also valuable to remember that healing from betrayal is not a quick process. Even with reassurances and boundaries in place, your feelings of hurt, betrayal, and anger may surface unexpectedly. Be gentle with yourself in this process and consider turning inward to strengthen your own resilience. Financial independence is an incredible strength, and leaning into the aspects of your life that bring you personal fulfillment can be grounding. Investing in your own well-being will help you feel more centered, no matter where this journey takes you.

If, at any point, you feel that his actions aren’t aligning with his words and that trust cannot be rebuilt, remember that choosing a path that prioritizes your mental peace is not a failure. Some couples also find that a temporary separation helps provide clarity; this doesn’t have to mean ending the relationship but could be a chance to reset, reflect, and decide if you both are truly aligned in your vision for the future.

In the end, what matters most is that you feel respected, valued, and loved in a way that doesn’t compromise your self-worth. This situation is a challenging chapter, but with clarity, boundaries, and professional support, you can find a path that honors both your love for your husband and your own dignity.

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Anu

Anu Krishna  |1263 Answers  |Ask -

Relationships Expert, Mind Coach - Answered on Nov 03, 2024

Asked by Anonymous - Nov 01, 2024
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Respected Madam, I am a 44 years old unmarried man. I didn't get any girl due to my low income & because I have only bachelor degree, but my younger brother married before 7 years. I have good & emotional bonding with my younger brother's wife (37 years old) in these 7 years. I always tell her all my feelings about depression & loneliness. I tried yoga & meditation. I tried reading books. I tried travelling on tours, but nothing worked. I told my brother's wife nothing is working. To my surprise, she offered me physical relation with her for some days. I immediately told her I love my brother & can't cheat him. She said she also loves my brother & she is not watching it as cheating. According to her, it's a medical cure from her side to get me out from depression. She said she will always love my brother, but as of now, she just wants to see me happy. She said if physical satisfaction will result in my happiness, then she is ready for this. She said medicines will not work in my situation. I have asked her to give me sometime to think about it. I know her from 7 years. She is a good genuine woman. She & my brother has a child. We do flirting with each other sometimes, but never made any such move. Now, you tell what should I do ??
Ans: Dear Anonymous,
Either she is very smart to suggest this OR very silly...you will know it!
Please stay away from it; it will lead to serious complications within the family and also may result in breaking relationships. They have a family; respect it and first thing, stop communicating with her. She seems to have some agenda in mind or is also attracted to you and trying to mask it as HELP to you.
At least you be the smarter one and think! Stay off of this please...

All the best!
Anu Krishna
Mind Coach|NLP Trainer|Author
Drop in: www.unfear.io
Reach me: Facebook: anukrish07/ AND LinkedIn: anukrishna-joyofserving/

...Read more

Anu

Anu Krishna  |1263 Answers  |Ask -

Relationships Expert, Mind Coach - Answered on Nov 03, 2024

Asked by Anonymous - Sep 05, 2024Hindi
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Relationship
Hi, we had a love cum arrange marriage and we are married for 8 years now. My husband works under his rich friend and tells me that it is a partnership in digital advertising but even he knows he has not invested a single rupee and he his job responsibilities also include mere jobs like doing googlepay to watchman to buy groceries or vegetables. I dont feel he has a respectable job nor the stagnant financial income since years. We have one seven year old child and due to societal pressure and also coz of the long gap started to plan for a second child but failing to conceive. I still think if i should stop planning for a second child as I see him struggling with basic necessities of 1 child itself. I dont feel heard, I know he can do well in corporate but he wants to stick to this stagnant growth for his friend. He has zero savings while his friend has crores worth of property. He is just an employee to his friend and he doesnt understand that and gets bought by the fake positions given.
Ans: Dear Anonymous,
What exactly is your question for me? Since you haven't asked me one, I am just going to give you my observations and suggestions.

Your husband is possibly a lazy person OR scared of taking on anything due to fear of failure and is okay being stagnant due to these fears.
Please re-think your decision of having a second child until the time your husband assumes certain responsibilities that bring in steady income. Till your financial position is secure, there's no point in adding any sort of new responsibilities to your lives, right?
As far as what makes your husband do what he is doing, and sticking by his friend; there is not much information that I have...maybe you know this better...ask an elder male member from his family to speak with him and hope things fall in place.

All the best!
Anu Krishna
Mind Coach|NLP Trainer|Author
Drop in: www.unfear.io
Reach me: Facebook: anukrish07/ AND LinkedIn: anukrishna-joyofserving/

...Read more

DISCLAIMER: The content of this post by the expert is the personal view of the rediffGURU. Investment in securities market are subject to market risks. Read all the related document carefully before investing. The securities quoted are for illustration only and are not recommendatory. Users are advised to pursue the information provided by the rediffGURU only as a source of information and as a point of reference and to rely on their own judgement when making a decision. RediffGURUS is an intermediary as per India's Information Technology Act.

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